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PH Industries Post Slower Gross Revenue Growth in Q1

by: Sarah Joson

Wednesday, July 30, 2014 | Outsourcing News |

According to the Philippine Statistics Authority (PSA), total gross revenue growth posted by local industries for the first quarter of 2014 is lower at 6.3 percent, compared to the same period of 2013 with 9.5 percent.

Lower revenue growth for business process outsourcing sector

Slowdown was said to have been triggered by slower activities in the bank services segment which only grew by 6.7 percent from 18.1 percent, and business process outsourcing sector, which falls under the private services segment, with 5.1 percent growth from 14.8 percent.

Meanwhile, the transportation and communication sectors posted bullish figures with 15.7 percent – coming from the negative growth of 0.1 percent during Q1 of last year.

The second fastest growth rate was seen in the real estate segment. It grew from 12.1 to 13.4 percent this year.

The PSA mentioned that even if other sectors posted positive growth, it was at a slower rate. In fact, the trade sector grew by 7.1 percent from last year’s 11.1 percent, and the manufacturing sector with 2.2 percent from 6.6 percent during the same period.

However, growth in employment improved, from 1.3 percent during the first quarter of last year to 1.4 percent this year.


Source:
http://www.businessmirror.com.ph/

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